Financial terms of the deal were not disclosed.
The acquisition expands NewBay’s presence in the broadcast and consumer electronics industries. The company currently publishes TV Technology, Television Broadcast and Residential Systems. “We’re truly excited to have the opportunity to work with this talented team and to have these market-leading brands join the NewBay family,” Steve Palm, CEO of NewBay Media, said in a statement. “This acquisition further demonstrates NewBay’s commitment to our goal of delivering value to our advertisers, readers and partners in these critical markets.”
NewBay has more than 40 publications and show dailies, 50 Web sites and 30 daily and weekly e-newsletters. The company is backed by the Wicks Group of Cos., a New York-based private equity firm.
Reed Elsevier, the parent company of Reed Business Information-US, announced earlier this year its intention to sell much of its trade publishing portfolio. The company attempted to sell the whole of Reed Business Information in 2008 but failed to get a satisfactory price. Now, Reed Elsevier is selling off titles individually or in small groups. Jordan, Edmiston Group represented Reed Business in the transaction.